Hohimer Wealth Management LLC Acquires New Stake in Monster Beverage Corporation $MNST

Hohimer Wealth Management LLC bought a new stake in Monster Beverage Corporation (NASDAQ:MNST) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,706 shares of the company’s stock, valued at approximately $820,000.

Several other hedge funds have also bought and sold shares of the stock. CI Investments Inc. grew its stake in Monster Beverage by 3.5% in the 1st quarter. CI Investments Inc. now owns 3,497 shares of the company’s stock worth $253,000 after buying an additional 119 shares in the last quarter. Wealth Alliance LLC raised its position in shares of Monster Beverage by 2.2% during the 1st quarter. Wealth Alliance LLC now owns 6,752 shares of the company’s stock valued at $489,000 after buying an additional 148 shares in the last quarter. CX Institutional raised its position in shares of Monster Beverage by 2.4% during the 2nd quarter. CX Institutional now owns 6,384 shares of the company’s stock valued at $614,000 after buying an additional 148 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Monster Beverage by 15.7% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,401 shares of the company’s stock valued at $102,000 after buying an additional 190 shares in the last quarter. Finally, Everpar Advisors LLC lifted its holdings in shares of Monster Beverage by 4.0% during the 2nd quarter. Everpar Advisors LLC now owns 4,948 shares of the company’s stock worth $476,000 after acquiring an additional 190 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

MNST stock opened at $45.64 on Tuesday. The company has a market capitalization of $89.41 billion, a PE ratio of 41.30, a price-to-earnings-growth ratio of 3.07 and a beta of 0.51. Monster Beverage Corporation has a one year low of $34.69 and a one year high of $50.17. The company’s 50 day moving average price is $44.68 and its two-hundred day moving average price is $43.32.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the business posted $0.56 EPS. The business’s quarterly revenue was up 16.7% on a year-over-year basis. On average, research analysts predict that Monster Beverage Corporation will post 1.15 EPS for the current year.

Analyst Upgrades and Downgrades

MNST has been the subject of several research reports. Piper Sandler upped their target price on shares of Monster Beverage from $50.50 to $53.00 and gave the stock an “overweight” rating in a research report on Friday. Weiss Ratings raised Monster Beverage from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, November 3rd. Zacks Research upgraded Monster Beverage from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price target (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. dropped their price target on Monster Beverage from $49.50 to $49.00 and set a “neutral” rating for the company in a research note on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average price target of $67.07.

Monster Beverage Profile

Monster Beverage Corporation develops, markets and sells energy drinks and other beverages. Its portfolio includes Monster Energy, Reign, NOS and Full Throttle, along with products in categories such as sports drinks, juices and alcoholic beverages.

The company traces its roots to Hansen’s, a beverage business established in the 1930s. It introduced the Monster Energy brand in 2002 and adopted the Monster Beverage name in 2012.

Based in Corona, California, Monster sells its products in the United States and internationally.